Lending-Based Crowdfunding Is A Nascent Fintech Market

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Lending-based crowdfunding is a nascent fintech market where individual investor and borrower meet each other to make transitions. [Feature] This market is attracting an increasing amount of attention from researchers in recent years. Some researchers examine the determinants of probability of successfully funding, the interest rate and loan performance, others care about the various characteristics of borrowers, the decision making behavior of investors. There are also studies on the design of platforms. However, one aspect which still receive inadequate attention is the username mechanism. Interesting topics include: What is the association of username with lending transaction? What is the role of username in investment decisions? …show more content…

At the same time, username is a highly personalized feature that is publicly displayed for all registered users. Paying attention to the username is a simple way for individuals to deal with the various kind of information. Our paper tends to investigate whether the username play a role in investment decision under the lending-based crowding funding setting.
• what have been done so far&&&What we extend
Previous research has examined the impact of name on investment decision from a series of aspects. For instance, (Green & Jame, 2013) studies the name from the linguistic aspects. They find that name fluency affects investment decisions. Companies with short, easy to pronounce names have higher breadth of ownership, greater share turnover, lower transaction price impacts, and higher valuation ratios. (Kumar, Niessen-Ruenzi, & Spalt, 2015) studies the impact of manager name on investment choices basing on name induced-stereotype. They find that investors are less likely to invest in mutual funds that have managers with foreign-sounding name. Recent study on reward-based crowdfunding reveal the impact of identity concealment on contribution dynamics (Burtch et al., 2016). This study shows that contributor’s decision to conceal information such as usernames positively influence subsequent contributors’ identity hiding decision, and have negative impact on later ones’ likelihood of conversion and average donation amount. While these

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